Balchem Corporation announced its financial results for the third quarter ended September 30, 2024, reporting net sales of $239.9 million. The company achieved net earnings of $33.8 million, adjusted EBITDA of $64.4 million, and free cash flow of $42.2 million for the quarter.
The Human Nutrition and Health segment generated sales of $152.3 million, an increase of 5.4% compared to the prior year quarter, driven by higher sales in both minerals and nutrients and food and beverage markets. This segment's earnings from operations increased by 13.8% to $35.6 million, primarily due to higher sales and a favorable mix.
The Specialty Products segment also saw strong growth, with sales increasing by 10.6% to $33.2 million, and earnings from operations rising by 20.3% to $10.5 million. While the Animal Nutrition and Health segment experienced a 1.9% decrease in sales to $52.9 million, consolidated gross margin expanded by 230 basis points to 35.6% of sales, reaching $85.4 million.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.